Equity markets experienced mixed results during August as fears of US Federal Reserve tapering became heightened. Domestically equity markets performed reasonably well whereas offshore markets struggled. This was particularly the case for emerging markets where fears of an imminent end to ‘cheap and easy’ finance from developed country’s central banks marked a turning point in investor sentiment towards these assets.
Under these conditions the Stonehouse Core Value Portfolio performed well, rising 0.15% over August and contributing to a strong relative performance quarter-to-date. Positive performances have continued to accrue in months marked by significant volatility.
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